Black Hills State University Foundation
- Assets
- $35.0m
- Revenue
- $3.4m
- Investments
- $0.0
- Employees
- 13
- Location
- Spearfish, SD
- Founding
- 09/1975
- Data as of
- 12/2021
- EIN
- 23-7428348
Organization Overview
Black Hills State University Foundation, operating under the name Steve Meeker, is located in Spearfish, SD. The organization was established in 1975. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. As of 12/2021, Steve Meeker employed 13 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Steve Meeker is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Steve Meeker generated $3.4m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.9%) each year. All expenses for the organization totaled $1.8m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (8.2%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE PRIVATE GIFT SUPPORT FOR BHSU. THE FOUNDATION'S PURPOSE IS TO COMMUNICIATE THIS TO ALUMNI, PARENTS, FRIENDS, CORPORATIONS, AND FOUNDATIONS TO OBTAIN AWARENES, UNDERSTANDING, ACCEPTANCE, AND SUPPORT. THE FOUNDATION ALSO ADDRESSES BOTH THE SHORT-TERM OPERATING AND LONG-TERM CAPITAL AND ENDOWMENT NEEDS OF BHSU.
Describe the Organization's Program Activity:
PROVIDE SCHOLARSHIPS AND AWARDS TO STUDENTS OF BLACK HILLS STATE UNIVERSITY. THE ORGANIZATION AWARDED 611 SCHOLARSHIPS.
INSTITUTIONAL SUPPORT OF MANAGEMENT AND SPECIAL PROJECTS RELATED TO BLACK HILLS STATE UNIVERSITY.
DEVELOP AND MAINTAIN RELATIONSHIPS WITH ALUMNI OF BHSU.
PRESIDENTIAL SUPPORT
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Daryl Johnson President | OfficerTrustee | 1 | $0 |
Damian Ederhoff Vice Preside | OfficerTrustee | 1 | $0 |
Beth Benning Secretary | OfficerTrustee | 1 | $0 |
Steve Meeker Exec Vice Pr | Officer | 27 | $0 |
Sandra Addy Board Member | Trustee | 1 | $0 |
Marla Barnard Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $66,571 |
| Related organizations | $0 |
| Government grants | $168,864 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,670,394 |
| Noncash contributions included in lines 1a–1f | $46,232 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,905,829 |
| Total Program Service Revenue | $0 |
| Investment income | $364,637 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $38,867 |
| Net Gain/Loss on Asset Sales | $75,228 |
| Net Income from Fundraising Events | $55,711 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,440,272 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $206,977 |
| Grants and other assistance to domestic individuals. | $1,103,880 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $12,485 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $980 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $46,729 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $77,934 |
| Fees for services: Other | $40,173 |
| Advertising and promotion | $2,044 |
| Office expenses | $53,070 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $7,298 |
| Travel | $1,978 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $112 |
| Interest | $27,339 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $44,816 |
| Insurance | $12,115 |
| All other expenses | $0 |
| Total functional expenses | $1,841,165 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,000,805 |
| Savings and temporary cash investments | $1,601,713 |
| Pledges and grants receivable | $789,792 |
| Accounts receivable, net | $11,809 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $12,226 |
| Net Land, buildings, and equipment | $3,048,727 |
| Investments—publicly traded securities | $25,429,790 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,063,743 |
| Total assets | $34,958,605 |
| Accounts payable and accrued expenses | $37,247 |
| Grants payable | $0 |
| Deferred revenue | $21,000 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $562,080 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $4,242,308 |
| Total liabilities | $4,862,635 |
| Net assets without donor restrictions | $3,575,255 |
| Net assets with donor restrictions | $26,520,715 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $34,958,605 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Black Hills State University Foundation has recieved totaling $9,500.
| Awarding Organization | Amount |
|---|---|
First Interstate Bancsystem Foundation Inc Billings, MT PURPOSE: GENERAL OPERATING SUPPORT | $9,500 |
Endowment Analysis
| Beg. Balance | $20,661,457 |
| Earnings | $2,563,383 |
| Admin Expense | $549,305 |
| Net Contributions | $1,181,919 |
| Grants | $684,167 |
| Ending Balance | $23,173,287 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
University Of Northern Iowa Foundation Cedar Falls, IA | $173,378,893 | $31,725,389 |
National Assistance Foundation Des Moines, IA | $16,519,301 | $16,875,706 |
Sioux Falls Christian Schools Association Sioux Falls, SD | $33,580,780 | $15,294,565 |
Grinnell College Medical Benefit Plan Trust Agreement Grinnell, IA | $11,174,588 | $9,791,771 |
Casper College Foundation Casper, WY | $118,882,238 | $11,522,950 |
Foundation Of Montana State University-Billings Billings, MT | $43,347,395 | $13,750,019 |
Iowa State University Research Park Corp Ames, IA | $68,199,725 | $11,124,615 |
Minnesota State University Mankato Foundation Incorporated Mankato, MN | $77,015,205 | $9,285,148 |
University Gateway Corporation Minneapolis, MN | $78,655,248 | $6,023,242 |
Nebraska Defense Research Corporation Lincoln, NE | $12,097,402 | $14,649,208 |
Iowa High School Athleticassociation Boone, IA | $17,327,220 | $5,760,245 |
St Cloud State University Foundation Inc St Cloud, MN | $54,919,652 | $10,818,973 |